Talent Management: Old Outnumber the Young

Bangalore: There was a time when the population used to be in the shape of a pyramid. Percentage of young people was more as compared to the middle aged and the old folks. But now the scenario has been almost opposite because the demographic geometry has changed radically in just the last few decades in many parts of the world- and will continue to shift further. The pyramid is now been replaced by diamond- or rectangular-shaped populations in many countries and will at some point have inverted pyramids-the old will outnumber the young.

Most recent study on demographic trends by the United Nations confirms these changes puts to rest any assumption that the pyramid-shape will return. Former ratio of old-to-young no longer exists in many countries and, much of the world will soon follow. Yet many of our talent management practices today are derived from this old idea.

Some of the initial lists of practices that are derived from the old assumption of a population pyramid are; Mandatory retirement: How to make the workplace more attractive to older workers and also to encourage talented employees to stay on longer? Linear careers: How to create a bell-shaped-curve career options that allow people to decelerate toward the end of their work lives? Headcount-based metrics: Using metrics for limiting the ability to tap the widest possible pool of talent? Recruiting initiatives aimed primarily at young hires: Proper use of talent at multiple levels. Prestige-based titles: How to move towards task based rather than prestige based?